If there’s one thing sellers want when you put a bid on a home, it’s a pre-approval letter from a lender. This one piece of paper lets the seller know that you are a serious buyer. Without that piece Read More
Is it Possible to Buy Down the Interest Rate on a Home Loan?
If you are like most homebuyers, you want the lowest possible interest rate on your mortgage. It makes sense because who wants to pay too much for their loan? But sometimes that lower rate comes at a Read More
Can you Get a Mortgage Loan Without Tax Returns
If there’s one thing that all lenders look at when you apply for a mortgage, it’s your income. You have to be able to prove beyond a reasonable doubt that you can afford the loan. In fact, ever since Read More
What is an Open-Ended Mortgage Loan?
If you have equity in your home, you can tap into it with an open-ended mortgage loan. This loan mimics what a credit card would do for you, just for a larger credit limit. The amount of your credit Read More
Buying a Home: Using Gift Funds for Down Payment
If putting 20% down on a home seems impossible, you are not alone. Many homebuyers struggle with the down payment. Before you let it keep you from buying a home, learn how using gift funds may be an Read More
Ready to Buy Your First Home? 10 Tips for Succeeding in a Seller’s Market
Buying a home in a seller’s market is no easy feat. You will likely have many bidders to compete with as you try to buy the house you desire. Just how far do you take it? At what point do you give up Read More
How Much of Your Income Should you Spend on a Mortgage?
You are ready to buy a home, but have no idea how much you can afford. You know your income, but how much of it should you use for your mortgage? Is there a percentage you should keep for your other Read More
Are Interest Rates Higher for a Second Mortgage Loan?
If you have equity in your home, you may be able to borrow against it with a second mortgage loan. You’ll often hear them by the name home equity line of credit, HELOC, and home equity loan. No matter Read More
Do Government Loan Programs Offer Better Interest Rates?
If you are a candidate for both a government-backed loan and a conventional loan, you might wonder which loans offer the better interest rates. Do FHA loans provide lower rates than Fannie Mae Read More
How Much Mortgage can I Get Approved For?
Shopping for a mortgage means more than finding the best interest rate. Before you start, you should figure out just how much money a lender will let you borrow. Once you know the amount of the loan Read More